Article out today in the Kalgoolie Miner.Carrick Gold after...

Article out today in the Kalgoolie Miner.
Carrick Gold after resource of five million ounces
By Ron Berryman

CARRICK Gold Limited is targeting
a gold resource of five million ounces
at its Lindsays Project in the Eastern
Goldfields before it starts any talk
about production.
Executive chairman Frank Carr said
the company had already identified
about 2.5 million ounces.
“The first 2.5 million is always the
hardest to find,” he said.
“We now have two reverse circulation
drill rigs and one diamond rig working at
Lindsays and we plan to commence
mining feasibility studies by the end of
the second quarter.”
Mr Carr said that while he hoped to
make another resource upgrade after
receiving drilling results at the end of the
month, production was still some way
off.
“We hope to reach our target of five
million ounces within 18 months,” he
said.
“We will be laying the groundwork for
mining this year and there is a lot of hard
work to go before mining can start.”
Mr Carr said Carrick had already
established a JORC compliant resource
of 2.25 million ounces and ore stockpiles
at the Lindsays trial pit totalled 200,000
tonnes at 1.6 grams of gold a tonne
giving the company 10,250 ounces of
gold.
“The geology of the area is well known
and the grade of measured resource is
3.5 grams to the tonne and the overall
grade is increasing,” he said.
“We believe the current drilling
program will increase the resource in the
measured and indicated categories.”
Mr Carr said he believed initial mining
at Lindsays would be open pit and later
underground.
A drilling program at New Discovery,
which is part of the Lindsays Project,
late last year identified mineralised
structures over a distance of
approximately 800m.
Zones of mineralisation and alteration
were determined, according to a report
released by the company, with similar
characteristics to the eastern structure
which hosts a resource exceeding one
million ounces of gold.
The company is awaiting assay results.
The Lindsays Project is located within
50km of Kalgoorlie-Boulder off Yarri
Road.
Carrick Gold has also identified high
grade gold mineralisation structures at
its Kalpini Project, which is located a
similar distance from Kalgoorlie-
Boulder and south-east of Lindsays.
The established strike length at
Kalpini is 1.5km and drilling results to
date have confirmed a high grade gold
corridor exceeding 700m.
In a presentation made in November
the company said it had an initial JORC
compliant indicated resource at Kalpini
of 250,000 gold ounces.
Current plans are to enlarge and
regrade gold resources at Kalpini.
Mr Carr is also executive chairman of
Shannon Resources Ltd, a nickel
exploration company with interests at
Kurnalpi north-east of Kalgoorlie-
Boulder.
The Kurnalpi Nickel project area has
been drilled and based on a lower cut-off
of 0.7 per cent nickel and including
internal waste, the exploration target is
estimated at 3.9 million tonnes at 0.95
per cent nickel and 0.09 per cent cobalt
at the lower range and 4.3 million tonnes
at the upper range.
An independent assessment has
identified 14 drilling targets for future
reverse circulation drilling for an
estimated total of 3200m and by
downhole EM techniques.
Mr Carr said drilling had commenced
at Kurnalpi and he expected results in
the near future.